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Ripple co-founder’s wallet sends $26 million in XRP to Coinbase as token nears all-time high
The address associated with Chris Larsen, the co-founder of Ripple, has transferred 9.5 million XRP tokens worth over $26 million to Coinbase. This move comes just before the token surged in value.
As reported by CoinGecko, the price of XRP began to rise shortly after the transfer, from around $2.8 per coin to over $3 and eventually reaching $3.3 for a 10% gain within a span of under 10 hours. At the time of writing, XRP is trading at approximately $3.2, just 6% below its all-time high.
The sending address in question belongs to a group of wallets linked to Larsen that had been inactive for at least six years prior to this recent transfer. On-chain researcher ZachXBT had previously identified these wallets and suggested that Larsen may have lost access to them.
Source: cryptobriefing.com
